SeaStar Medical Holding Corporation (NASDAQ:ICU) Short Interest Down 36.7% in June

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 81,907 shares, a drop of 36.7% from the June 15th total of 129,310 shares. Based on an average daily volume of 74,907 shares, the short-interest ratio is presently 1.1 days. Currently, 2.1% of the shares of the company are sold short.

SeaStar Medical Trading Down 5.2%

SeaStar Medical stock opened at $4.00 on Friday. SeaStar Medical has a 12 month low of $2.07 and a 12 month high of $12.50. The stock’s 50 day simple moving average is $3.82 and its two-hundred day simple moving average is $3.28. The firm has a market cap of $16 million, a PE ratio of -0.83 and a beta of -1.05.

SeaStar Medical (NASDAQ:ICU) last posted its earnings results on Wednesday, May 13th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.08). SeaStar Medical had a negative net margin of 828.62% and a negative return on equity of 146.29%. The firm had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $0.44 million. On average, equities research analysts forecast that SeaStar Medical will post -3.58 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ICU shares. Wall Street Zen downgraded shares of SeaStar Medical from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SeaStar Medical in a research report on Tuesday, April 21st. Finally, Maxim Group set a $8.00 price objective on SeaStar Medical and gave the company a “buy” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its position in shares of SeaStar Medical by 395.4% in the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after acquiring an additional 48,674 shares during the period. Jane Street Group LLC acquired a new stake in shares of SeaStar Medical during the 4th quarter valued at about $30,000. Finally, Millennium Management LLC purchased a new position in shares of SeaStar Medical in the 3rd quarter valued at about $102,000. Hedge funds and other institutional investors own 1.69% of the company’s stock.

About SeaStar Medical

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.